To Rent Or Buy? That Is The Question

No matter what stage of life you’ve come to, much of your future decisions hinge upon whether or not you’re renting your home or if you’ve decided to purchase it. So, what are the pros and cons to consider when making the decision to rent or buy a home? Here’s a short guide to help you decide which is best for you. Consider Your Income While buying a home is usually a better long-term investment, sometimes it isn’t a viable option in everyone’s standing financial situation. It also doesn’t just come down to whether a rent payment is cheaper than a mortgage payment, either. There are many costs to consider when buying a home, like property taxes, closing costs, home maintenance, insurance, homeowner fees and utilities. Sometimes, for the short term, renting is just more affordable. If you’re in a position where you have enough money to buy a home and solid enough credit (more on that, later) to take out the loans you may need, consider buying more seriously. By increasing the equity of the home you buy, you may be able to sell it for more, later, or even rent it out to tenants when you’re ready to move […]
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